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Bank of England

This tag is associated with 27 posts

The history of interbank settlement arrangements

By Editor ⋅ 14 June, 2011 ⋅ Post a comment

Interbank settlement arrangements: exploring central banks’ role in the payment system, BoE Working Paper No 412 by Ben Norman, Rachel Shaw and George Speight. Abstract. Modern central banks have come to view payment systems as a key area of strategic interest, both as part of their responsibilities for financial stability and for the implementation of [...]

BoE’s corporate governance under scrutiny

By Editor ⋅ 23 May, 2011 ⋅ Post a comment

23 May. Corporate governance at BoE. During the past two decades, the Bank of England has been transformed. While it still occupies a cavernous 18th century building in the City of London, designed by Sir John Soane, its functions and responsibilities are barely recognisable from those it discharged as recently as 15 years ago. Most [...]

BoE Macroprudential policy: building financial stability institutions

By Editor ⋅ 18 April, 2011 ⋅ Post a comment

18 Apr. Macroprudential policy: building financial stability institutions – speech by Paul Tucker Speaking at the 20th Annual Hyman P. Minsky Conference in New York, Paul Tucker – Deputy Governor for Financial Stability, member of the Monetary Policy Committee and member of the interim Financial Policy Committee – discusses the interaction of the UK’s new [...]

Bank of England payment systems oversight

By Editor ⋅ 30 March, 2011 ⋅ Post a comment

30 Mar. The purpose of the BoE Payment Systems Oversight Report for 2010 is to set out how the Bank carries out the oversight of key UK payment systems under Part 5 of the Banking Act 2009. The statutory framework for oversight was introduced on 31 December 2009; this is the first Oversight Report since [...]

Bank of England on credit rating agencies

By Editor ⋅ 30 March, 2011 ⋅ Post a comment

30 Mar. Credit rating agencies originally emerged as private companies offering investors considered opinions on the credit quality of borrowers. But while they continue to perform this function, their role has expanded over time. Credit ratings are now heavily hardwired into financial contracts, investment processes, and the regulatory framework. Rating agency decisions therefore have potentially [...]

Do we need an International Monetary System?

By Editor ⋅ 14 March, 2011 ⋅ Post a comment

14 Mar. The Governor of the Bank of England, Mervyn King, today calls for a “grand bargain” to bring about a global rebalancing and avert a move towards protectionism. In a speech to the Stanford Institute for Economic Policy Research in California, the Governor notes the importance of international trade and hence an effective International [...]

New draft code of practice for auditors and supervisors

By Editor ⋅ 11 February, 2011 ⋅ Post a comment

11 Feb. Following joint work with the Bank of England, the Financial Services Authority (FSA) has published, for consultation, a draft code of practice designed to enhance the dialogue between auditors and supervisors. The aim of the code is to improve audit effectiveness and ensure that supervisors are better informed about, and able to challenge, [...]

BoE financial stability report

By Editor ⋅ 23 December, 2010 ⋅ Post a comment

22 Nov. The Bank of England published its bi-annual Financial Stability Report (a visual Summary of the report is available). The Report is part of the delivery of the Bank’s strategy for its financial stability work, as set out in the Bank’s Annual Report 2010. The Report concentrates on the Bank’s assessment of conjunctural risks [...]

The governor of the Bank of England to re-invent finance?

By Editor ⋅ 1 November, 2010 ⋅ Post a comment

01 Nov. In a recent speech Mervyn King savaged big banks and criticised the new Basel 3 rules as too soft. Then he said what he really thought, arguing that “of all the many ways of organising banking, the worst is the one we have today.” Possible remedies included not just breaking up banks, but [...]

Bank of England’s Mervyn King: Sober

By Editor ⋅ 20 October, 2010 ⋅ Post a comment

20 Oct. Mervyn King, in his first speech as governor in 2003, talked about the decade from the early 1990s to the early 2000s as “nice,” that is, non-inflationary consistently expansionary. “I argued,” he recalled in a speech Tuesday to the Black Country Chamber of Commerce in West Midlands, “that the next decade was unlikely [...]

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